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You invested $2,000 in a simple interest account. The balance after 8 years is $2,720. What is the interest rate?

You invested $2,000 in a simple interest account. The balance after 8 years is $2,720. What is the interest rate?
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1 vote
You invested $2,000 in a simple interest account. The balance after 8 years is $2,720. What is the interest rate?

User Knogobert
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1 Answer

3 votes
2000 times (1+x)^8 = 2782

Answer is x times 100
User Erich Kitzmueller
by
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